Lazard’s Levelized Cost of Energy+ analysis has run since 2007 and compares the cost competitiveness of generation technologies alongside energy storage and system-level considerations. The 2026 edition is current and available as a free PDF download.
The 2026 report finds that renewables remain the most cost-competitive form of new-build generation on an unsubsidized basis, while noting that storage costs have risen this year and that cost pressure is rising across all generation technologies.
How it gets used on a real project
LCOE+ is the chart that ends arguments in rooms where nobody wants to litigate assumptions. It is cited constantly, it is free, and the unsubsidized framing is what makes it persuasive to audiences who assume renewables only work because of tax credits.
Understand what it is before leaning on it. Levelized cost is a lifetime average cost per MWh under a stated set of assumptions; it is not a price, it does not capture when the energy is delivered, and it does not reflect the interconnection cost or basis risk of any particular project. Two projects with identical LCOE can have very different value. Use it for cross-technology comparison, not as a substitute for a project model.